U.S. Rig Count Drops, But E&P Spend Up 13%

June 29, 2018

Image: © xmentoys/Adobe Stock
Image: © xmentoys/Adobe Stock

U.S. energy companies this week cut oil rigs for a second straight week, and notched the first monthly fall since March.

Drillers cut four oil rigs in the week to June 29, bringing the total count down to 858, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

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